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Walker & Dunlop Structures $121 Million Construction Loan for Luxury, Mixed-Use Property in South Florida

Jun 11, 2019 - PR Newswire

PR Newswire

 Walker & Dunlop, Inc. announced today that it arranged$121,310,000in construction financing forPlantation Walk, a master-planned development in the heart of Plantation, Florida. Formerly a fashion mall, the site is being reincarnated as a mixed-use town center featuring luxury apartments, office, retail, and hotel deliveries. The financing supports the next phase of construction, which includes the development of 404 multifamily units and 134,326 square feet of retail space.

Walker & Dunlop's team, led by Managing DirectorEric McGlynn, arranged the financing on behalf of repeat-client, Rescore Property Corp., a Florida-based private REIT founded by Arthur Falcone, Tony Avila, and Bill Powers. McGlynn leveraged his broad network of capital providers, identifying Pacific Western Bank as the developer's ideal partner for financing the p...